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Market Segmentation Of Gillette's Target Market

1515 Words7 Pages

Target Market Segmentation Market segmentation practices at P&G are meant to divide the large market at its disposal into submarkets that are based on the diverse needs of preferences for products by customers. Under these common characteristics, the company is able to standardize its market mix for its customers within a certain segment (Ailawadi, Lehmann & Neslin, 2001). Therefore, segmentation of Gillette products serves various purposes that include creating growth opportunities, bringing higher profits, enabling better satisfaction of customer wants and needs, stimulating innovation, and enhancing sustained customer relationship in the customer life cycle. Segmentation approach adopted by Gillette is referred to as Geoclusturing, and it entails the combination of numerous variables with the intention of having a better-defined target category of customers. This can be described as a multi-attribute technique of segmentation. The primary segmentation factors of Gillette products include age, gender, occupation, income, generation and lifestyle, all of which enable the company to accurately define market segments at its disposal. Gillette products are produced in a wide range to accommodate the personal grooming market for men. For instance, the shaving gel is produced for men who value skin maintenance and grooming. This segment of customers is ready to pay the premium prices for products used for personal grooming. Shaving products have a very competitive market, and

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